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Carrefour, the international retail giant on its way to Israel - Walla! Of money

2022-03-06T07:26:51.282Z


Karpur, one of the largest food chains in the world, will open branches in Israel during 2022. The company owns close to 14,000 supermarkets around the world.


Carrefour, the international retail giant on its way to Israel

Karpur, one of the largest food chains in the world, will open branches in Israel during 2022. The company owns close to 14,000 supermarkets around the world and its entry into Israel is a real competition for the food chains.

Responsible for the move is Electra Consumer, which will turn the Mega Pavilion branches into Carrefour

Walla!

Of money

06/03/2022

Sunday, 06 March 2022, 09:00 Updated: 09:13

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Electra needs to sign a memorandum of understanding with Carrefour to open a marketing network in Israel, Carrefour is the largest international retailer to enter Israel to date, with about 13,900 branches and a sales turnover of 81.2 billion euros.



The first Karpur branches will open by the end of 2022, and within 3 years more than 150 Mega Pavilion branches will be converted to Karpur, in parallel with the opening of new branches.



Less than a year after completing the acquisition of control of the Bitan Wines chain, Electra Consumer Products reports today (Sunday) that it has signed a memorandum of understanding with Carrefour, to open a supermarket chain in Israel under the Carrefour brand.



Under the agreement, more than 150 branches of the Bitan Wines chain will be gradually converted to Carrefour branches.

The first branches under the Carrefour brand will open before the end of 2022 and branded Carrefour products will begin to be sold at Pavilion Wines branches before the summer.

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Carrefour is the largest international retailer to date in Israel, with about 13,900 branches and a turnover of 81.2 billion euros.

The franchise agreement between the parties is for a period of 20 years, with the possibility of extension for another 20 years.

The franchise fee will include an initial payment, plus payments to be paid as a percentage of the income.

The parties will work to sign a binding agreement by April 2022.



For Carrefour this is an expansion of the company's international operations.

Patrick


Lasfargues

, president of Carrefour's International Division

: "We are pleased to sign this agreement, which once again proves the solid foundations of Carrefour's international franchise strategy.



Electra Consumer Products is a company with a strong spirit of retail entrepreneurship, which proved itself once again when it purchased Pavilion Wines in 2021. We are confident that Carrefour's arrival in Israel will significantly improve the local shopping experience and strengthen the purchasing power of consumers who receive better products.



Electra Consumer Products CEO Zvika Schweimer

: "

The entry of Carrefour into Israel is the largest and most significant move in the history of retail in Israel ever. And enter new areas.

Carrefour's benefits are in line with Amatz's strategy to bring added value to the customer and lead in every field it enters. "



Pavilion Wines CEO, Amit Zeev

"Karpur brings you a real message to the Israeli consumer in the consumption experience, in the variety of products and the price level. The agreement with Karpur allows us to skip many obstacles that characterize the food and consumption market in Israel, and offer consumers solutions that do not exist in Israel today. "

And to give us differentiation and an advantage over the competition.



But more importantly, we intend to bring good news and change that will be felt in every home and home and offer solutions to the cost of living for the consumer audience in Israel."

Zvika Schwimmer, CEO of Electra Consumer Products (Photo: Doron Bersky)

The Carrefour Group operates approximately 13,900 stores in more than 40 countries in Europe, the Middle East, North Africa, East Asia and Africa.



The company operates in various retail formats: supermarkets, supermarkets, Cash & Carry, municipal stores and online sales sites, tailored to each country and state.



Carrefour is a world leader in changing food consumption habits anywhere in the world, and it provides its customers with access to quality and affordable food anytime, anywhere.



Carrefour's brands are the largest in Europe.

Carrefour carries out more than 2 billion transactions a year and the company's sales turnover for 2021 amounted to 81.2 billion euros.



Carrefour is a public company whose shares are listed on the Euronext NV stock exchange and the market value of the company is about 14 billion euros.



"Electra Consumer Products" from the Elco Group is controlled by the Zalkind brothers.



In the last two years, the company, led by CEO Zvika Schweimer

, has made a number of strategic moves that have positioned it as a leading consumer and retail group in Israel.

Electric. In the second, it is the controlling owner of the Bitan Wines chain and is the franchisee for opening a convenience store chain of the global brand Saban Elban.



About a year ago, Bosch Global became a partner of AMZ after acquiring 40% of Electra Industries and joining it in establishing an advanced thermo-technological park in Ashkelon.



As part of the company's green strategy, AMZ will soon begin construction of a plant for recycling air conditioners and electrical products in Ashkelon, with the goal of recycling 50% of all electrical waste in the State of Israel within a decade.


AMZ is traded at a value of NIS 4.1 billion.

In the last three years the stock has yielded investors a return of over 480%.

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Tags

  • Cost of living

  • Retail

  • food

  • Electra

  • Zvika Schwimmer

Source: walla

All business articles on 2022-03-06

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